Econometric Estimation of Fishing Production Functions when Stocks is Unknown: A Monte Carlo Analysis

Antonio Alvarez

No 2003/09, Efficiency Series Papers from University of Oviedo, Department of Economics, Oviedo Efficiency Group (OEG)

Abstract: In fisheries economics it is quite common to include a measure of fish stock as an argument of the production function. Given that this information is not available in many cases, researches use stock proxies. In this paper we show that a common proxy based on average catch of all (or some) boats in a given period is biased. However, a proxy based on seasonal dummy variables works better. An empirical section that uses Monte Carlo illustrates the theoretical results.

Keywords: fish stock; production function; Monte Carlo analysis. (search for similar items in EconPapers)
Pages: 18
Date: 2003
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Citations: View citations in EconPapers (1)

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